Tourmaline Oil (TSE:TOU) Insider Buys C$309,350.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction on Friday, August 21st. The stock was acquired at an average cost of C$61.87 per share, with a total value of C$309,350.00. Following the acquisition, the insider owned 8,142,678 shares in the company, valued at approximately C$503,787,487.86. This represents a 0.06% increase in their position.

Mike Rose also recently made the following trade(s):

• On Wednesday, August 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$60.00 per share, for a total transaction of C$300,000.00.
• On Friday, July 31st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$61.84 per share, for a total transaction of C$309,200.00.
• On Friday, June 26th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$59.84 per share, with a total value of C$149,600.00.
• On Wednesday, June 24th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$59.10 per share, for a total transaction of C$147,750.00.
• On Thursday, June 18th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.52 per share, for a total transaction of C$297,600.00.
• On Monday, June 15th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$63.96 per share, with a total value of C$319,800.00.
• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$63.79 per share, with a total value of C$318,950.00.
• On Thursday, May 28th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$63.70 per share, with a total value of C$159,250.00.
• On Monday, May 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$65.98 per share, with a total value of C$164,950.00.

Tourmaline Oil Stock Performance

Tourmaline Oil stock traded up C$0.10 during trading on Friday, reaching C$62.28. The company had a trading volume of 455,542 shares, compared to its average volume of 2,690,033. The firm’s 50-day simple moving average is C$61.13 and its 200 day simple moving average is C$63.10. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24. Tourmaline Oil Corp. has a 52 week low of C$56.91 and a 52 week high of C$70.57. The firm has a market capitalization of C$24.20 billion, a price-to-earnings ratio of 67.70, a price-to-earnings-growth ratio of 1.72 and a beta of -0.29.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 earnings per share for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%.The firm had revenue of C$1.50 billion for the quarter. Sell-side analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. Tourmaline Oil’s dividend payout ratio is 217.39%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TOU. Jefferies Financial Group raised their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research note on Thursday, May 7th. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the company a “hold” rating in a research report on Friday, July 17th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Finally, TD boosted their target price on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$70.36.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.